Western Alliance Bancorporation (NYSE: WAL) CEO discloses Form 4 insider stock moves

Rhea-AI Filing Summary

Western Alliance Bancorporation’s President and CEO, who also serves as a director, reported insider transactions dated December 15, 2025.

The report shows exercises of cash-settled restricted stock units relating to 539 and 437 shares of common stock, followed by dispositions of the same amounts at $86.18 per share. After these transactions, the reporting person directly owns 447,611 common shares, plus 1,950 shares held through a 401(k) plan and 750 shares held in a UTMA account for a daughter.

The filing also lists cash-settled restricted stock units, each economically equivalent to one share of common stock, with 7,558 and 11,356 units remaining. These units vest in equal monthly installments from March 2024 through February 2027 and from March 2025 through February 2028, respectively, and are payable solely in cash.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Vecchione Kenneth

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 1400

(Street)

PHOENIX AZ 85004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTERN ALLIANCE BANCORPORATION [ WAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/15/2025		M		539(1)	A	$0(2)	448,150	D
Common Stock	12/15/2025		D		539	D	$86.18	447,611	D
Common Stock	12/15/2025		M		437(3)	A	$0(2)	448,048	D
Common Stock	12/15/2025		D		437	D	$86.18	447,611	D
Common Stock								1,950(4)	I	401K Plan
Common Stock								750	I	Darcy Vecchione UTMA (daughter)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			539	(1)	(1)	Common Stock	539	(2)	7,558	D
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			437	(3)	(3)	Common Stock	437	(2)	11,356	D

Explanation of Responses:

1. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.

2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

3. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.

4. Reflects shares held in the 401K Plan to include employer match as of 12/11/2025.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	12/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions were reported for Western Alliance Bancorporation (WAL) on December 15, 2025?

The reporting person disclosed exercises of cash-settled restricted stock units tied to 539 and 437 shares of Western Alliance Bancorporation common stock, followed by dispositions of those 539 and 437 shares at $86.18 per share.

How many Western Alliance Bancorporation (WAL) shares does the insider own after these transactions?

After the reported transactions, the insider directly owns 447,611 shares of Western Alliance Bancorporation common stock, plus 1,950 shares held in a 401(k) plan and 750 shares held in a UTMA account for a daughter.

At what price were Western Alliance Bancorporation (WAL) shares disposed of in this Form 4?

The Form 4 shows dispositions of 539 and 437 Western Alliance Bancorporation common shares at a price of $86.18 per share.

What derivative securities are disclosed in this Western Alliance Bancorporation (WAL) Form 4?

The filing discloses cash-settled restricted stock units, each economically equivalent to one share of Western Alliance Bancorporation common stock, with 7,558 and 11,356 units beneficially owned after the reported transactions.

How do the Western Alliance Bancorporation (WAL) cash-settled restricted stock units vest and pay out?

One grant of units vests and is payable solely in cash in 1/36th monthly installments from March 2024 through February 2027, and another vests in the same 1/36th monthly pattern from March 2025 through February 2028, all payable in cash.

What is the reporting person’s role at Western Alliance Bancorporation (WAL)?

The reporting person is identified as a director and an officer, serving as President and CEO of Western Alliance Bancorporation.